Global Narcolepsy Drugs Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Type, Indication and Region - Industry Forecast (2024 to 2029)

Published: January, 2024
ID: 6660
Pages: 175

Global Narcolepsy Drugs Market Size (2023 to 2028)

The size of the worldwide narcolepsy drugs market is forecasted to rise at a CAGR of 9.9% between 2023 to 2028.

Narcolepsy refers to the condition in which a person suffers from excessive sleeping in the daytime. It is an autoimmune condition that describes the uncontrollable habit of sleeping outside the nightly hours. These patients tend to become sleepy at any given time and may even fall asleep without their knowledge which can be dangerous. This sleeping disorder is essential as it can severely affect an individual's daily life. The condition is often caused due to the lack of a brain chemical, hypocretin or orexin, which helps induce wakefulness in a person. In addition, this disorder can occur due to the genetic inheritance of the disease, hormonal changes, stress, change in sleep patterns, and as a side effect of several flu-like swine flu and flu vaccines. Though many reasons are stated for narcolepsy, not all have been thoroughly proven.

MARKET DRIVERS:

The growing prevalence of narcolepsy and the rising patient population suffering from obesity majorly propel the global narcolepsy drugs market growth. As per the Narcolepsy Network, nearly three million people are affected over the globe. Mainly in the USA, two in 1500 people are affected by narcolepsy. Narcolepsy disorder will affect the quality of a person's life. People suffering from narcolepsy frequently enter cataplexy, and REM sleep within every 15 minutes of falling asleep is the main factor. Mostly, narcolepsy patients and narcolepsy are having sleep apnea symptoms and can go through EDS (excessive daytime sleepiness) by a rise in demand for narcolepsy treatment. For example, according to statistics, narcolepsy affects around 3 million people worldwide and around 200,000 Americans. Therefore, the rising prevalence of the problem is expected to support the market's growth. Additionally, type 1 narcolepsy, the most prevalent, causes a loss of muscle tone called cataplexy. Cataplexy temporarily weakens the muscle, almost like paralysis. Narcolepsy can also cause sleep paralysis, hallucinations, and daytime sleeping habits, leading to more complex interruptions in life. Therefore, the need to live an ordinary daily life supports the market's growth. Narcolepsy can significantly alter an individual's emotions and affect their daily life in the worst ways. Patients may become less productive and may fail to meet several deadlines. The need to reduce the possibility of failure due to the disease is expected to encourage growth in the market.

The random sleep schedule from narcolepsy can happen anytime unannounced and is extremely dangerous. If a person falls asleep without their knowledge while driving or in the middle of the road, it can lead to several accidents. According to a research statistic from Harvard, nearly 30-50% of patients with narcolepsy have experienced some accident while performing everyday chores like cooking, running, crossing the street, etc. Therefore, the growing number of accidents due to narcolepsy encourages the growth of the market. The inability to adequately express strong emotions as they lead to cataplexy leads to more individuals looking for chances at growth. Narcolepsy dramatically affects an individual's mental health as people can see several things that are out there during sleep paralysis, and this phenomenon is called hypnopompic hallucinations, which can cause anxiety and fear. Therefore, the deteriorating mental health due to narcolepsy supports the growth of the market. Type 2 narcolepsy can occur due to external injuries like head injury, multiple sclerosis, brain tumor, and encephalitis. Therefore, the rising cases of brain injuries and tumors are also leading to more growth in the market.

In several cases, narcolepsy can also lead to several other conditions, like changes in the REM cycles, obstructive sleep apnea, and insomnia. Therefore, the multiple problems support the growth of the market. Narcolepsy symptoms often affect people from adolescence and are majorly witnessed among people aged from 20 to 40 years old. Therefore, young people lose several opportunities due to the drawbacks that narcolepsy brings, leading to more demand for the market. Additionally, the several new advancements in drugs and investments in the R&D for narcolepsy drugs support the growth of the market. For example, the new narcolepsy drug by avail pharmaceuticals called "lumpy" has recently been approved by the FDA and is all set to be priced competitively in the market. Furthermore, some other newly approved stimulants and treatments for narcolepsy include pitolisant and solriamfetol. Therefore, the rapid approvals and interest of the government in drug development support the growth of the market during the forecast period.

Increased alcohol consumption, tobacco, and coffee are expected to increase the risk of narcolepsy. High disposable income and increased awareness about the benefits of narcolepsy drugs are anticipated to fuel market growth globally. As the cases rise, there is an increase in government initiatives about increasing awareness and finding the best cure for the disease. Narcolepsy is a rare and underdiagnosed chronic condition; thus, there are many undiagnosed patients worldwide. The lack of awareness is a serious challenge, as patients are unaware of the disease. The availability of treatment also poses a serious challenge as the governments have not recognized the disease's seriousness. Thus, there is a lack of research on the treatment. Moreover, the other significant factors boosting the global narcolepsy drug market are the rising awareness of narcolepsy and modifiable usage to treat patients with low effects with a comparison of traditional stimulants. Additionally, the adoption of appropriate treatment is also helping to prevent disease. The rise in numerous narcolepsy patients is a significant factor in the narcolepsy drug market.

MARKET RESTRAINTS:

High costs associated with the diagnosis, treatment, and narcolepsy drugs are majorly restraining market growth. However, sleeping disorder encompasses many diseases with significant individual health consequences, high economic expenditure to society, and disruption in treatment to smoothen functions in the narcolepsy drugs market. Even though there are several medications available to keep narcoleptic conditions under check, they do not entirely eradicate the problem. Narcolepsy is a lifelong illness that can only be controlled through medicine but is not entirely cured, and this is a significant drawback to the market's growth. Additionally, all the medications for narcolepsy are central stimulants, and if consumed in excessive quantities, they can lead to insomnia. These medications also have several side effects, making them unpreferable, like headaches, nausea, nervousness, weight loss, stomach pain, irritability, etc. Therefore, the side effects are a drawback to market growth. The lack of awareness about the severity of narcolepsy and the fewer services provided is also a drawback to the market growth. Narcolepsy is often underdiagnosed and not paid much attention, which is a restraint to the market growth.

Impact of COVID-19 on the global narcolepsy drugs market:

During the COVID-19 pandemic, the outbreak narcolepsy market faces many challenges as every market is also facing. Obesity and hypertension conditions were lying under this narcolepsy and spotted due to association with significant hospitalization and mortality risk of people who get infected. As per the researchers of narcolepsy, COVID-19 can migrate from the olfactory bulb by focusing on narcolepsy to the hypothalamus and affects orexin neurons. In narcolepsy conditions, COVID-19 can also trigger the immune system of patients.

The pandemic led to several economic complications and severe losses for major businesses due to sudden lockdowns and quarantines, leading to the shutdown of production and supply chains. On the other hand, the COVID-19 pandemic led to more markets for the narcolepsy drugs market as more people started sleeping at untimely sessions due to quarantines and irregular sleep schedules. The population had lost their jobs, and several were working from home; their circadian rhythms and sleep schedules get disrupted, leading to unusual sleepiness. Many papers have shown that covid led to the development of insomnia in several patients and narcolepsy in others. In addition, the quarantine made people often stressed and very depressed due to financial and social issues leading to more chances of narcolepsy and support for the growth of the market. Therefore, the pandemic led to more growth in the market.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 to 2028

Base Year

2022

Forecast Period

2023 to 2028

Segments Covered

By Type, Indication and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, the Middle East and Africa

 

This market research report on the global narcolepsy drugs market has been segmented and sub-segmented based on the type, indication, and region.

Narcolepsy Drugs Market – By Type:

  • Central Nervous System Stimulants
  • Tricyclic Antidepressants
  • Sodium Oxybate
  • Selective Serotonin Reuptake Inhibitor
  • Others

Based on the type, the sodium oxybate segment was the major revenue contributor by therapeutics type in 2022 and is anticipated to continue this trend during the forecast period. This segment is expected to show profitable growth during the forecast period. These drugs are highly effective in treating extreme daytime sleepiness and cataplexy. The growing awareness about the disease and its cure will boost this sub-segment. More research is being done using this drug, and soon a breakthrough can be expected. The Sodium Oxybate/ gamma-hydroxybutyrate/ GHB segment is a highly effective treatment for daytime extreme sleepiness and cataplexy. To treat cataplexy at doses, SSRIs (Selective serotonin reuptake inhibitors) are very useful in comparing the usage of treating depression. The segment mentioned above also has factors such as a high rate due to increased R&D activities for development.

Selective serotonin reuptake inhibitor has the second-highest market share and is expected to register the fastest growth during the forecast period. The Research and Development projects related to these drugs have increased as market players grow. They're mainly prescribed to treat depression, particularly persistent or severe cases, and are often used in combination with a talking therapy such as cognitive-behavioral therapy.

Central nervous system stimulants have the third-largest market share and are expected to register profitable growth. It is a type of drug that increases certain chemicals in the brain and increases alertness, attention, energy, and physical activity. It also increases blood pressure and heart rate. Due to increased awareness about its symptoms, the market will have a positive impact.

Tricyclic antidepressants have the fourth largest market share and are expected to grow during the forecast period correctly. They were introduced in the 1950s, and since then, many players have introduced new drugs.

Narcolepsy Drugs Market – By Indication:

  • Daytime Extreme Sleepiness
  • Cataplexia
  • Others

Based on the indication, the daytime extreme sleepiness segment is estimated to cover the highest market share in the overall narcolepsy drug market during the forecast period. The rise in the prevalence of narcolepsy increased the risk of symptoms and other sleep disorders. Many people suffering from narcolepsy and other sleep disorders have a higher risk of this symptom, thus increasing the demand for narcolepsy drugs. The growth will further be boosted as more players are added to the narcolepsy drugs market. In addition, it is considered the disease's most common symptom and can easily be identified in the affected patients, leading to more revenue in the segment's medication.

Cataplexia is the second-largest market and is expected to have the highest growth rate in the market. People have become more aware of the disease because of its symptoms, like muscle mass loss. Various nations are doing more research, and countries like India and China may soon have dedicated research centers. Cataplexy is a sudden loss of muscle tone while a person is awake, leading to weakness and loss of voluntary muscle control. Cataplexy and daytime extreme sleepiness segments have a significant share due to the abovementioned factors. Although cataplexia levels differ for each patient, all patients with type 1 narcolepsy experience it. In addition, Cataplexia makes it difficult for the patient to express strong emotions without facing such issues leading to more need for treatment in the segment.

Narcolepsy Drugs Market – By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

Regionally, North America holds a significant share of the global narcolepsy drugs market due to market leaders' presence and the presence of a stellar healthcare system. The primary reason behind this dominance is the high awareness among people due to government initiatives. The healthcare facilities available are also excellent in this region, which further boosts the North American narcolepsy drugs market. Introducing new private players in the market will drive the growth of this region. As expected, the North American region dominates the global narcolepsy drugs market with a large share with attributing factors due to high healthcare expenditure and a rise in the high substantial patient population. In 2018, the National Institute of Neurological Disorders estimated that nearly 250,000 people in the United States live with narcolepsy. Due to the presence of developed economy countries such as Canada and the U.S. Moreover, most global players, like Mylan N.V. and Ligand Pharmaceuticals, Inc., are present in these developed economy countries. Due to market players' presence in American regions, boundaries fuel the narcolepsy market. In addition, the market is growing due to advanced R&D in the region and the funding and availability of high-end technologies for drug production. Furthermore, the presence of several key market players and the high investment of the government in the healthcare sector is also expected to support the market's growth. Furthermore, the region is growing due to rising mental health issues. North American citizens are often subjected to stressful job roles and schedules to make a living, leading to an unhealthy lifestyle and sleep schedule, contributing to the market's growth.

The European narcolepsy drugs market accounted for the second-largest market share in 2022 and is expected to register promising growth during the forecast period owing to the growing number of advanced healthcare facilities and an increasing population in the European region. Government initiatives about depression and its effects are also boosting this market. Some of the other attributing factors that are advantageous are owning funds available for research and activities, the increment of the vast patient population, and the numerous obese people's growth. Moreover, the presence of developed economic countries such as Italy, Germany, and France in European regions. More than half of the population is obese, as per Eurostat. The recent advancements in the R&D processes for drugs and the active involvement of the E.U. in drug production and approvals leading to market growth in Europe. Additionally, the growing populations diagnosed with narcolepsy in countries like the U.K., Germany, Italy, etc., are expected to drive the market's growth.

The Asia Pacific is the fastest-growing region due to increasing disposable income, growing awareness, and increasing adoption rate. The Asia Pacific region is expected to have the fastest growth rate among other areas. The growing population and increase in disposable income have fuelled the growth rate. Governments of countries such as India are promoting awareness of the importance of narcolepsy, which is further expected to boost the APAC narcolepsy drug market growth during the forecast period. Untapped markets in developing countries are expected to offer remunerative opportunities for the market players soon. The rising geriatric populations and growing awareness regarding the disease favor the growth of the APAC market. In addition, the rising disposable incomes and interest in pharmaceutical companies in countries like Japan, India, China, etc., drive market growth in the region. Furthermore, the presence of developed economic countries such as China and India is helping to develop facilities for the healthcare sector in the Asia-Pacific region. Additionally, the favorable government in the Asia-Pacific region is boosting the growth of the narcolepsy market.

The Latin American narcolepsy drugs market is estimated to hold a considerable share of the global market during the forecast period. Brazil led the market in Latin America in 2022, followed by Mexico.

The MEA narcolepsy drugs market is anticipated to grow at a steady pace during the forecast period. As expected, the least market share of the global narcolepsy drugs market is contributed by the Middle East and Africa region. These MEA regions' own factors such as the presence of weak economies within the Middle East and Africa region and stringent government policies in the African region are lagging the market growth share. Middle East region contributes the largest share due to the huge healthcare expenditure of developed economy countries like Kuwait, Qatar, and Saudi Arabia.

NOTABLE COMPANIES IN THE MARKET:

Some of the key players dominating the Global Narcolepsy Drugs Market include Ligand Pharmaceuticals, Addrenex Pharmaceuticals, Shire Plc, Teva Pharmaceutical Industries Ltd., Arena Pharmaceuticals, Jazz Pharmaceuticals Plc, Bioprojet, and Graymark Healthcare, Inc.

RECENT MARKET HAPPENINGS:

  • In May 2023, Lumryz (sodium oxybate), a medication used to treat cataplexy or excessive daytime drowsiness in individuals with narcolepsy, has received final FDA approval. A central nervous system depressant called sodium oxybate has an extended-release version called Lumryz. Its therapeutic benefits are mediated via GABAB activities at thalamocortical, noradrenergic, and dopaminergic neurons.
  • In May 2023, The U.S. Food and Drug Administration (FDA) permitted NLS Pharmaceutics to start the Phase III narcolepsy treatment program for Quilience (Mazindol E.R.). Two double-masked Phase III trials, NLS-1031 and NLS-1032, will be part of the program this summer at various locations around the United States. Fifty participants in each study who have been given narcolepsy with a cataplexy diagnosis and are at least 18 years old will participate.
  • In May 2023, The U.S. Food and Drug Administration accepted an investigational new drug (IND) application from Zevra Therapeutics, Inc. This company develops treatments for rare diseases to launch a Phase 1 clinical trial of KP1077 for narcolepsy. This trial is expected to help determine the best dosing schedule. The first of numerous KP1077 Phase 1 clinical trial for narcolepsy is expected to begin this year, according to Zevra.
  • In May 2023, Avadel, a Chesterfield-based pharmaceutical business, announced Monday that regulations approved its narcolepsy medication. Successful deployment would result in a return on the company's long-term investment in its narcolepsy medication. The drug has become Avadel's focus in recent years, and the company is growing as it gets ready to launch it.
  • In June 2019, Addrenex Pharmaceuticals received a license to manufacture drugs worldwide to treat Narcolepsy around the globe. The agreement with SK Holdings Co Ltd has helped the company to gain the license. According to Addrenex, the drug's license would provide quality treatment for excessive sleepiness, which provided an amazing output in clinical trials.
  • In January 2019, Seelos Therapeutics Inc., a leading biopharmaceutical company in the clinical trials stage, partnered with the Ligand, and it is officially now a public company. In 2016, Ligand gave rights to the four drugs manufactured by Seelos. This acquisition is to boost the company’s portfolio in the coming years.
  • In 2020, Teva Pharmaceutical Industries announced they would pay USD 69 million to settle Narcolepsy drug in California. This payment will help the company stay a monopoly in the market where the other company’s Narcolepsy drugs will delay the release for almost six months.

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Frequently Asked Questions

What are the key drivers of the narcolepsy drugs market?

The rising prevalence of narcolepsy, rising awareness about the disorder, and advancements in drug development are majorly driving the growth of the narcolepsy drugs market.

Who are the major players in the narcolepsy drugs market?

Jazz Pharmaceuticals, Teva Pharmaceutical Industries, Novartis AG, and Shire Pharmaceuticals are some of the major companies in the narcolepsy drugs market.

Which region is expected to dominate the narcolepsy drugs market in the coming years?

North America is expected to dominate the narcolepsy drugs market in the coming years due to the high prevalence of narcolepsy in the region.

What are the challenges faced by the narcolepsy drugs market?

Limited awareness among patients and healthcare professionals, the high cost of drugs and the potential side effects of medication are some of the notable challenges to the growth of the narcolepsy drugs market.

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